Cattle futures attempted to rebound from recent losses this week. December live cattle traded moderately higher on Thursday to $231.17 per cwt following Wednesday’s surge. Earlier this week, prices slid to the lowest since August, wiping out two months of trade in just a few days. 

Nearby futures holding above the $230 level today is positive and could allow the market to consolidate at current levels. 

Choice boxed beef prices were lower for the first time this week, losing $3.11 on Thursday to $378.27 per cwt. Seasonally prices remain at historical levels. News from the Trump-Xi meeting last night did not bring any reports on meat purchases. However, tight cattle supplies should offset any additional export demand. China has been buying record amounts of beef from Brazil amid U.S. tariffs. 

January feeder cattle traded 37 cents higher to $334.40. Tuesday’s reversal day may help stabilize prices here for the short term. 

Cash feeder cattle markets have been on edge this week since the recent futures market selloff. The CME Feeder Cattle Index fell to $352 per cwt on Thursday, the lowest since Aug. 22.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.